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The consumer electronics and home appliances market in the UAE is successful, vibrant, healthy, extensive and expanding The consumer electronics and home appliances market in the UAE is successful, vibrant, healthy, extensive and expanding

Technological advancement is as old as the hills. The invention of the wheel and the discovery of fire would have been regarded as innovations in the past and would have certainly impacted on the preferences of the people. In contemporary times, technological advancement continues to define and guide public preferences. The key difference today is that there is a relationship of mutuality between the consumer and technological progress, such that they learn from and contribute to each other. 
Arjan Chatani, Head, Marketing and Business Development, International Traders (ME) Ltd./ COSMOS told Khaleej Times: "At ITL Cosmos, the consumer's needs and satisfaction is as important as our assurance to technological advancement. And both, we believe, are determined by time. We envision the future through the lens of the present, firmly holding the hands of the past."
The consumer electronics and home appliances market are essentially geared towards the call and desire of the consumer - the end-user. The value of a good in the consumer electronics and appliances market is determined by the utility and need that the consumer attaches to it. Any technological nuance and innovation in the industry has been driven and guided by the requirements of the consumer, while promoting future lifestyles. Therefore, the current trends and preferences in the market are oriented towards and determined by the consumer. While there is a general slowdown in traditional products, the newer trends continue to revitalise demand. The momentum is geared towards intelligence, agility and comprehensiveness combined with adaptability, quality and aesthetics. 
"The dominant trend in the market, and one that would remain for some time to come, is one which regards the product as a package, containing offers of optimal utility, stylistic design, affordable pricing and post-purchase care. For home appliances, trends which have emerged as definitive include matte black is the new stainless steel, heat pump technology, time saving features, smudge proof finish and appearance of minimal ornamentation. For consumer electronics, emerging trends include augmented reality, artificial intelligence, products built with health sensors, 5G technology and faster performing combo chip sets," he emphasised.
Consumer electronics and appliances are no longer luxury or opulence, rather they are the fundamentals for a decent and comfortable living. Any home and every home maker would necessarily and naturally prioritise the acquisition of consumer electronics and appliances.
Chatani said: "There is an old myth that the market size of consumer electronics and appliances is equivalent to the number of people. The UAE is not a market with a limited territory; rather it is a hub for the region and the world. The consumer electronics and home appliances market are estimated to continue to contribute to the market. The market has moulded itself sufficiently to the paying potential of the consumer so that a disparity in income does not impact on the market size. We at ITL Cosmos are well geared to brace this opportunity."
Today, the UAE is known globally for its initiative in varied realms, some of which include commercial enterprise, travel and leisure and vivacity of the electronics market. These accomplishments are indisputably a result of the vision and foresight of the signature leadership of the UAE. In fact, ITL Cosmos was the first company in the UAE to have received a decree of incorporation from late Sheikh Rashid bin Saeed Al Maktoum, former Vice-President of the UAE and Ruler of Dubai, and continues to contribute to the vision of the leaders of the UAE.
According to Chatani, the UAE has remained a country committed to and supportive of the consumer electronics and home appliances market. "Undoubtedly, the electronics and appliances market in the UAE is successful, vibrant, healthy, extensive and expanding. The policies and programmes, which the leaders of this country have institutionalised have contributed to and facilitated the establishment, sustenance and growth of the market. The UAE is a market that never sleeps. Plus, the onslaught of the online retail sector alongside the steady growth of competition ensures that offers attractive enough will always be available to the consumer," he concluded.
VAT impact
"While VAT was initially seen as a major deterrent if not breaker of market momentum, the society has grown out and up of these premature speculations. Today, VAT is perceived as every responsible entity's and consumer's contribution to the development and progress of the nation - our involvement in the nation's path to prosperity," Chatani commented. 
Healthier future
Chatani highlighted that the world's sensitivities towards a healthy and clean life have translated into a market for consumer electronics and appliances, which facilitate healthy and nutritional cooking.
He said: "Home appliances that would emerge dominant would be those with health sensors, indicating the nutritional content and value. The future of the home appliance market is certainly determined by calories and healthcare. ITL Cosmos and Sharp, are planning to launch a full new line of small and kitchen appliances by start of next quarter. Some of these products have been developed with aesthetic imagination and are excitingly creative. In fact, Sharp is today among few brands that still own factories and sell what they design, develop and produce in their own factories, globally."
- deepa@khaleejtimes.com

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